@millennialindebt
Millennial In DebtOne of the big buzz words in the real estate / home ownership community is: EQUITY But the truth is most don’t understand what the term means. Building equity in your home allows you to borrow money based on the value of your home and how much of your home you actually own That borrowed money can be used in many ways like covering renovations on your current home or using it to purchase another property. You are basically using the value of your home as collateral. The two main ways to build equity are: pay down your mortgage or increase the value of your home with renovations. Macroeconomics also play a major part in the value of your home and how you build equity. That is where the majority of my equity stems from. (Side note: most banks will not allow you to take a loan for your full equity amount. Ex: if you have $100,000 in equity you can probably borrow between $60,00 - $80,000) Let me know if you have any equity or homeownership based questions below 👇🏾 . . . . . . . . . #millennialindebt #homeownership #homeowner #firsttimehomebuyer #firsttimehomeowner
On the profile · Sep 26, 2025